Tax Tip for Feb

Give your staff small tax free benefits after 6 April 2016

As long as each gift costs less than £50 incl VAT, it’s not reportable or taxable on your staff.

If you’re a director of a small company, you and your family are subject to an annual £300 limit.

Your staff aren’t subject to such limits, so you may pay for things like flowers, chocolates and meals out

without worrying about a tax liability, as long as it’s not related to their job.

 

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